The man who pulled Ford out of Formula One has stepped down as President and CEO of the company. Bill Ford Jnr called time on Ford’s involvement in F1 through its Jaguar brand late in the 2004 season, jeapordising the jobs of hundreds at its factory in Milton Keynes.

Happily those jobs were saved by the intervention of Red Bull who took over the team. They scored more championship points with it in 2005 than Ford ever achieved with Jaguar.

It is not yet known whether his successor Alan Mulally, whose background is in aviation, is much of a motorsports fan. But it is likely he will be more preoccupied with Ford’s financial problems than looking to re-enter the top level of motor sport.